Sri Lanka is on the verge of advancing two significant wind energy projects, in collaboration with India's Adani Green Energy Ltd, as disclosed by the country's energy minister on Wednesday. Amidst a severe financial crisis, the island nation is urgently seeking solutions to its energy woes, including frequent power blackouts and acute fuel shortages.
The minister expressed optimism about overcoming current hurdles related to pricing and efficiency that have stalled these projects. "Maybe in the next four weeks, we will see some results on the negotiation process, and there is another negotiation for the transmission lines that is also being evaluated," Energy Minister Kanchana Wijesekera revealed in an interview with Reuters on the sidelines of the India Energy Week event in Goa.
Adani Green Energy, which secured approvals in February 2023 to invest $442 million in these wind projects, has yet to comment on these developments. Sri Lanka's reliance on a mix of hydropower, coal-fired, and oil-based power plants has underscored the urgency of transitioning to renewable energy sources. The government's ambitious goal is to generate 70% of its electricity from renewables by 2030, moving away from coal-based capacity.
In a bid to further bolster its energy security, Sri Lanka is also engaging with neighboring India on a proposal to supply liquefied natural gas (LNG) for power generation. Discussions with India's state-run Petronet LNG are reportedly making positive strides, with Wijesekera indicating that an agreement could be reached within the next three to four weeks.
Furthermore, Sri Lanka is expanding its energy partnerships beyond India. In November, the government approved a proposal from China's Sinopec to construct a $4.5 billion oil refinery in Hambantota, a strategic location where China has previously developed a port. According to Wijesekera, the contract has been awarded, and the government is addressing Sinopec's inquiries regarding land clearance, water supply, and fiscal incentives.
These developments represent a multi-faceted approach by Sri Lanka to tackle its energy crisis, signaling a significant shift towards renewable energy and international cooperation to secure a more sustainable and reliable energy future.
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theatre actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
Renewable Energy ,
Sri Lanka Eyes Breakthrough in Wind Energy Projects
by : Samira Tasneem | Published: February 18, 2024
Sri Lanka nears progress on critical wind energy projects with India’s Adani, aiming to alleviate power crises and fuel shortages.
Sri Lanka is on the verge of advancing two significant wind energy projects, in collaboration with India's Adani Green Energy Ltd, as disclosed by the country's energy minister on Wednesday. Amidst a severe financial crisis, the island nation is urgently seeking solutions to its energy woes, including frequent power blackouts and acute fuel shortages.
The minister expressed optimism about overcoming current hurdles related to pricing and efficiency that have stalled these projects. "Maybe in the next four weeks, we will see some results on the negotiation process, and there is another negotiation for the transmission lines that is also being evaluated," Energy Minister Kanchana Wijesekera revealed in an interview with Reuters on the sidelines of the India Energy Week event in Goa.
In a bid to further bolster its energy security, Sri Lanka is also engaging with neighboring India on a proposal to supply liquefied natural gas (LNG) for power generation. Discussions with India's state-run Petronet LNG are reportedly making positive strides, with Wijesekera indicating that an agreement could be reached within the next three to four weeks.
Furthermore, Sri Lanka is expanding its energy partnerships beyond India. In November, the government approved a proposal from China's Sinopec to construct a $4.5 billion oil refinery in Hambantota, a strategic location where China has previously developed a port. According to Wijesekera, the contract has been awarded, and the government is addressing Sinopec's inquiries regarding land clearance, water supply, and fiscal incentives.
These developments represent a multi-faceted approach by Sri Lanka to tackle its energy crisis, signaling a significant shift towards renewable energy and international cooperation to secure a more sustainable and reliable energy future.
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Samira Tasneem
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theatre actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
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